2 VALUESAccording to M. Haralambos (2000), “A value is a belief that something is good and desirable”.FEATURES / CHARACTERISTICS OF VALUES1. Values are often vaguely defined by an individual.2. Values are often defined in terms of concepts.3. Values are different states of intentionality which when activated, guide behaviour and create meaning.4. Values support individual needs. 5. Values change as needs and circumstances change.
3 6. Values may be inculcated through learning or adopted as a result of life experiences. 7. Most of the basic values are learnt early in life from family, friends, neighbourhood, school, the mass print and visual media and other sources within the society.8. Values may be specific, such as honouring one’s parents or owning a home or they may be more general, such as health, love and democracy.9. Value systems can be different from culture to culture. Values are also different for each person. While one person might value honesty, another might value wealth.10. We use ‘values self-awareness’ to evaluate the appropriateness of our behavior as well as the behaviour of others.
4 TYPES OF VALUES1. Broad classification of values (1) Individual values - These are the values which are related with the development of human personality or individual norms of recognition and protection of the human personality such as honesty, loyalty, honour etc. (2) Collective values: Values connected with the solidarity of the community or collective norms of equality, justice, solidarity and sociableness are known as collective values.
5 2. On the basis OF hierarchical arrangement: (1) Terminal Values - These are the values that we think are most important or most desirable. They are desirable states of existence that we work towards or try to reach. (2) Intrinsic values - These are the values which are related with goals of life. They are sometimes known as ultimate and transcendent values. (3). Instrumental values - These values come after the intrinsic values in the hierarchy of gradation of values. These values are the means to achieve goals (intrinsic values) of life.
6 3. On the basis of organizational setting / organizational values (1) Relationship values - Relationship values reflect how you relate to other people in your life, i.e. friends, family or colleagues in the organisation.(2) Societal values - Societal values reflect how the individual or the organisation relates to society.
7 4. On the basis of nature of values: (1) Personal values - These are the values endorsed by an individual. (2) Family values - Family values are the principles valued in a family, and may be good or bad. (3) Social-cultural values - Cultural values are centred on what a culture believes is fair and just. These are the prevailing values of the society which change with time and either coincide or not with the family or personal values.
8 (4) Material values - These values allow an individual to survive and are related to the basic needs of human beings, such as food, clothing and protection from the environment. (5) Spiritual values - Spiritual Values are how you represent what you believe in when it comes to religion / spirituality. Spiritual values are the way you believe in your own god. (6) Moral values - Moral values are the attitudes and behaviours that a society considers essential for coexistence, order, and general wellbeing of the society. (7) Aesthetic values - Aesthetic values are the values associated with the evaluation of artwork or beauty.
9 IMPORTANCE / SIGNIFICANCE OF VALUES 1. Values play an important role in the integration and fulfilment of man’s basic impulses and desires in a stable and consistent manner appropriate for his living.2. They are generic experiences in social action made up of both individual and social responses and attitudes.3. They build up societies and integrate social relations among the members of the society.4. Values are the effective cultural elements which shape the elements of the individuals as well as members of a community that holds together. They mould the ideal dimensions of personality and range and depth of culture.5. They influence people’s behaviour and serve as criteria for evaluating the actions of others.
10 6. They have a great role to play in the conduct of social life. 7. They help in creating norms to guide day-to-day behaviour.8. Their importance is independent of the circumstances. For example, even though if we may be unfair, fairness still has a value.9. In an organization, values serve as a framework for the behaviour of its members. In this regard, an organization’s values are reflected in the specific behaviours of its members, and not just in its mission statement.10. The values are important because they help us to grow and develop. They help us to create the future we want to experience.
11 11. When we use our values to make decisions, we make a deliberate choice to focus on what is important to us. When values are shared, they build internal cohesion in a group.12. Values enable individuals to feel that they are part of something bigger than themselves.13. Values are the motive power behind purposeful action. They are the ends to which we act.14. Values are essential to ethics. Ethics is concerned with human actions and the choice of those actions. It determines which values should be pursued, and which should not. Ethics is a code of values.15. For the well-being of the community, it is necessary to have shared rules that guide the behaviour of its members, otherwise the community will not function satisfactorily for the majority.
12 MORALS1. Morals are concerned with or relating to human behaviour, especially the distinction between good and bad or right and wrong behaviour.2. Morals can be defined as adhering to conventionally accepted standards of conduct.CHARACTERISTICS OF MORALS1. They are based on a sense of right and wrong according to the conscience of a person.2. Moral standards deal with matters which people think can seriously injure or seriously benefit human beings.3. Moral standards are not established or changed by political or legal authoritative bodies. The validity of moral standards rests on the adequacy of the reasons.
13 4. Moral standards are preferred to other standards including even self-interest when choice is there.5. Moral standards are impartial. They are based on impartial reasons that an impartial observer would accept.6. Moral standards are associated with special emotions. When people act in violation of a moral standard, they feel guilty, ashamed and remorseful.7. Prescriptivity refers to the practical or action-guiding nature of morality. (For example, ‘Do not kill,’ ‘Do no unnecessary harm,’ and ‘Love your neighbour’). Morals are intended for use to advise and to influence to action.
14 8. Moral principles must apply to all who are in the relevantly similar situation. If one judges that act X is right for a certain person P, then it is right for anyone relevantly similar to P. According to GOLDEN RULE “It cannot be right for A to treat B in a manner in which it would be wrong for B to treat A.9. Moral principles must be made public in order to be an action- guiding role in our lives.10. A moral system must be workable i.e. its rules must not lay a heavy burden on agents.11. Morals often play an important role in the formation of ethics.12. Though morality is often used to refer to the code of conduct accepted by an entire society, different morals may be accepted and practiced by individual groups within a society.
15 MYTHS ABOUT BUSINESS ETHICS 1. Business ethics is more a matter of religion than management2. Our employees are ethical so we do not need to pay attention to business ethics3. Business ethics is a discipline best led by philosophers, academics and theologians4. Business ethics is superfluous. It only asserts the obvious: ‘Do Good’5. Business ethics is a matter of the good guys preaching to the bad guys
16 6. Business ethics is the new policeperson on the block 7. Ethics cannot be managed8. Business ethics and social responsibility is the same thing9. Our organisation in not in trouble with the law, so we are ethical10. Managing ethics in the workplace has little practical relevance
17 RELATIONSHIP BETWEEN MORALS, VALUES AND ETHICS The following points highlights the relationship between the two: (a) Similarity of origin The words "ethics" and "morality" share the same origin. (b) Ethics as Moral Studies In the 1995, Professor John Deigh of the University of Texas argued that "ethics" relates to the "philosophical study of morality.“ (c) Ethics comprises Morals The Oxford English Dictionary underlines the idea that ethics relates to "a set of moral principles" in its definition of the word.